OraSure Technologies (NASDAQ:OSUR) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.07 and traded as high as $4.43. OraSure Technologies shares last traded at $4.41, with a volume of 577,089 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Stock Up 1.1%

The stock has a market capitalization of $307.07 million, a PE ratio of -4.29 and a beta of 1.02. The business’s 50-day moving average is $3.63 and its two-hundred day moving average is $3.08.

Insider Buying and Selling at OraSure Technologies

In other news, Director Steven Kyle Boyd bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $2.99 per share, with a total value of $74,750.00. Following the transaction, the director directly owned 113,462 shares in the company, valued at $339,251.38. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kotler Kevin acquired a new stake in shares of OraSure Technologies in the fourth quarter valued at approximately $4,359,000. Altai Capital Management L.P. grew its position in shares of OraSure Technologies by 73.4% during the third quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock worth $12,034,000 after acquiring an additional 1,586,488 shares during the last quarter. Millennium Management LLC increased its holdings in shares of OraSure Technologies by 71.1% in the 3rd quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock valued at $6,781,000 after acquiring an additional 878,151 shares during the period. Yorkville Advisors Global LP purchased a new stake in OraSure Technologies in the 1st quarter valued at $1,905,000. Finally, Archon Capital Management LLC purchased a new stake in OraSure Technologies in the 4th quarter valued at $1,388,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.